San Diego Named "Best City for Business"
California CEO Magazine Ranks City of San Diego #1 in California

SAN DIEGO, CA - San Diego secured the number one ranking for California's "Best Cities for Business" in the February edition of California CEO magazine. According to the study, San Diego's booming economy, flourishing downtown projects and forecast for continued economic success were major factors in landing San Diego on top.

The study evaluated hundreds of cities in all regions of California based on crime statistics, housing costs, labor availability, cost-of-living indexes and Chambers of Commerce reports. The magazine surveyed dozens of cities, performing in-depth analyses on comprehensive business conditions.

According to California CEO magazine, San Diego's diversity makes it an ideal business climate with state-designated Enterprise Zones, a federally designated Foreign Trade Zone, and a large array of business incentives offered to local businesses. San Diego companies benefit from a talent pool of more than 200,000 students enrolled in the region's six universities and nine community colleges.

Characterized as having "a lot of excitement from a business perspective," San Diego was acknowledged for its third largest concentration of biotech in the United States and fourth largest concentration of telecomm. Several Fortune 500 companies are headquartered in San Diego, and major companies in the area include QUALCOMM, Sempra Energy, IDEC Pharmaceuticals, Pfizer, and Science Applications International Corporation. This diverse, high-tech economy leads to an environment of economic success.

This recognition comes nearly a year after San Diego was named in the Forbes/Milken Institute study as the "Best Place for Business and Careers," suggesting San Diego has fared well in today's economy.

"It is clear that our efforts, together with the business community and other economic development partners, are paying off in dividends," said Hank Cunningham, director of the City's Community and Economic Development Department.

For further information on the Best Cities for Business, the February issue of California CEO magazine is available online at www.californiaceo.com. For more information on the business incentives and assistance programs offered by the City of San Diego, contact the Community and Economic Development Department at (619) 533-4233 or visit the City of San Diego's web site at www.sandiego.gov.

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With an emphasis on the City's urban core neighborhoods and low- and moderate-income residents, the Community and Economic Development Department strives to improve the quality of life and ensure a healthy economy in San Diego through job development, business development, neighborhood revitalization, public improvements, redevelopment, social services, and revenue enhancement.